Seven conglomerates including Samsung Group, Hyundai Motors Group, and SK Group signed up to participate in the 2012 World Expo in Yeosu, its organizing committee said.Other participating business groups include LG, Lotte, Posco and GS. The fact that leading local conglomerates decided to participate in the Yeosu Expo shows that expectations for the event are very high, organizers said. The expo i

South Korea with Africa should forge a win-win cooperation model where they maximize the use of Africa’s abundant resources and Korea’s technology and development experience, a senior government official said Friday. “Korea needs to start seeing Africa as a major emerging market for the country to achieve an annual trade volume of $1 trillion,” Second Vice Minister of Knowledge Economy Park Young-

South Korea plans to inject 1 trillion won ($900 million) into developing new and renewable energy sources this year with a plan to achieve $40 billion in exports in the sector by 2015, the Ministry of Knowledge Economy said Thursday.“The move came as we aim to nurture solar and wind power generation as the country’s next chip industry and shipbuilding industry, respectively,” ministry officials s

Korea Electric Power Corp. CEO Kim Ssang-soo pledged to boost the firm’s overseas sales to $26 billion by 2020 by improving the profitability and efficiency of its nuclear power and “green” businesses, the firm said Thursday.“We must carry out the construction of nuclear power plants in the United Arab Emirates as planned and win another nuclear reactor contract from abroad this year,” Kim said in

 Five-star hotels, technical colleges also receive good marks for consumer-tailored servicesSamsung C&T Corp., known for its apartment brand “Raemian,” acquired the highest rating in a national consumer satisfaction survey last year, the Korea Productivity Center said on Tuesday. Yeungjin College and Daelim Industries Co. garnered the second and third places, respectively. The survey of 65,427 con

Five-year plan seeks to meet increased demand for international flightsThe government is to invest 2.1 trillion won ($1.8 billion) to upgrade airport facilities over the next five years, the Ministry of Land, Transportation and Maritime Affairs said Tuesday. The plan includes further expanding Incheon International Airport to help cope with rising flight demand and consolidate its status as a Nort

The government is planning to reduce fuel surcharges on international flights this year due to a drop in international crude oil prices, the Ministry of Land, Transport and Maritime Affairs said Monday. The ministry said it will reform the current fuel surcharging system, categorized only in terms of long-distance and short-distance flights. It plans to specify classifications according to flight

Stocks and equity funds were the most profitable investments in 2010 with the domestic securities market emerging strongly from the financial crisis, industry data showed.Investors in real estate, however, suffered from lackluster yields as the property market remained sluggish despite government stimulus. The benchmark KOSPI rose by 21 percent throughout 2010 to reach 2,051 points on Thursday, th